FedEx Freight Shares Fall in NYSE Debut After Spinoff
FedEx Freight shares declined during their NYSE debut on Monday following a spinoff from FedEx Corp. Analysts noted execution risks and high transition costs.
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FedEx Freight shares fell 2.8% on Monday following their New York Stock Exchange debut after spinning off from FedEx Corp. The stock dropped as much as 13.8% from its $164 opening price. The company faces execution risk and transition costs related to the spinoff, alongside persistent underperformance on service and volume metrics.
FedEx Freight opened 2.3% higher on Monday morning compared to its $160.37 when-issued price from late last week. Shares of FedEx Corp remained little changed at $333.30.
